BNB/USDT 1day analysis
Binance Coin(BNB) is in a struggling situation partly because of its ecosystem’s instability these days. Has been trading sideways for about 2 months, and this also reflected the lack of confidence from the investors.
From the technical side, BNB is creating lower highs with reduced trading volume. EMA20 is about to cross above EMA50, this would help to confirm an uptrend in the short-term and also acts as a support. We would expect a rising price as long as it stays above the EMAs. Conversely, If the price falls down, BNB could test support of $240.
From the technical side, BNB is creating lower highs with reduced trading volume. EMA20 is about to cross above EMA50, this would help to confirm an uptrend in the short-term and also acts as a support. We would expect a rising price as long as it stays above the EMAs. Conversely, If the price falls down, BNB could test support of $240.
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